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Progress Software ( (PRGS) ) has provided an update.
Progress Software Corporation is set to acquire ShareFile from Cloud Software Group for $875 million, enhancing its AI-powered enterprise software portfolio with ShareFile’s SaaS-native, document-centric collaboration tools. The deal, pending regulatory approval, is part of Progress’s Total Growth Strategy to add valuable assets, with ShareFile expected to contribute over $240 million in annual revenue. In line with this acquisition, Progress plans to suspend its quarterly dividend to focus on debt repayment and future investments.
Learn more about PRGS stock on TipRanks’ Stock Analysis page.
